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  • 06-02-22

    Saudi Aramco raises crude oil costs for Asia, US, Europe

    (MENAFN) Saudi Arabia has raised its crude oil costs for clients in Asia, the US and Europe, after the cost of crude soared to nearly USD95 for one barrel.

    According to sources, state-owned firm Saudi Aramco raised costs for all grades for its major market of Asia in March.

    The firm increased its main Arab Light oil for the area by 60 cents from February to USD2.80 for each barrel higher than the benchmark it employs. Costs for other Asian grades soared by between 40 and 70 cents for each barrel. US prices were raised by 30 cents.

    Brent crude has jumped around 20 per cent this year to over USD93 for each barrel. The cost increased as international consumption stays robust in spite of the spread of the Omicron strain of Covid-19.

    MENAFN06022022000045013568ID1103647342

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